This Chapter provides for selected matters relating to ownership of immovable property. Subject to certain exceptions, it declares that only citizens of the state of Pohnpei or corporations wholly owned by citizens of the state of Pohnpei may hold title to land in the state of Pohnpei. It refers to a provision of article 12 of the Pohnpei Constitution relative to acquisition of permanent interest in real property. The Chapter also defines the effect of failure to record transfer of or encumbranc